Question 1

The assortment of product lines and individual product offerings that a company sells is known as its product cluster.

Accepted Answer

A) True 
 B)False  False

Question 2

Which of the following products is most likely to be promoted through advertisements rather than through personal selling?

Accepted Answer

A) Oil rigs 
B) Laptops 
C) Raw cotton 
D) Mineral ores 
A) Oil rigs 
B) Laptops 
C) Raw cotton 
D) Mineral ores B

Question 3

Define Total Quality Management (TQM)and ISO 9001:2008.Give examples of some companies that you know of as certified by ISO.

Accepted Answer

Total Quality Management (TQM)refers to continuous effort to improve products and work processes with the goal of achieving customer satisfaction and world-class performance.
ISO 9001:2008 refers to standards developed by the International Organization for Standardization in Switzerland to ensure consistent quality management and quality assurance for goods and services throughout the European Union (EU).
Students' examples will vary.

Question 4

Buyers rarely play any role in the creation and distribution of services.

Accepted Answer

A) True 
 B)False

Question 5

A series of related products offered by one company is called a product _____.

Accepted Answer

A) cluster 
B) subgroup 
C) line 
D) pack 
A) cluster 
B) subgroup 
C) line 
D) pack

Question 6

Which of the following comes closest to providing pure service?

Accepted Answer

A) A retail store 
B) An automobile dealership 
C) A coffee shop 
D) A fitness gym 
A) A retail store 
B) An automobile dealership 
C) A coffee shop 
D) A fitness gym

Question 7

Match each item with the correct statement below.
-The assortment of product lines and individual product offerings a company sells is called the _____.

Accepted Answer

A) marketing mix 
B) specialty products 
C) product 
D) services 
E) convenience products
F)impulse goods
G)installations
H)wholesalers
I)business-to-business (B2
B) 
J)supplies
K)emergency goods
L)shopping products
M)component parts and materials
N)staples
O)product mix
P)product line
Q)line extension
R)total quality management
S)product lifecycle
T)benchmarking 
A) marketing mix 
B) specialty products 
C) product 
D) services 
E) convenience products
F)impulse goods
G)installations
H)wholesalers
I)business-to-business (B2
B) 
J)supplies
K)emergency goods
L)shopping products
M)component parts and materials
N)staples
O)product mix
P)product line
Q)line extension
R)total quality management
S)product lifecycle
T)benchmarking

Question 8

​Prescott purchased a 5-series BMW sedan and chose the vehicle because he loves the sporty ride and great handling.He usually takes the Interstate to work and lately has become disillusioned with the car and is bored.Which of the following might you recommend to Prescott to enhance his "want satisfaction" related to the vehicle purchase.

Accepted Answer

A) ​Change his driving route and get off the Interstate 
B) ​Trade-in the BMW 5-series sedan and purchase a sports car 
C) ​Drive faster than the speed limit to heighten the thrill of driving 
D) ​Read articles or reviews about the BMW 5-series vehicle 
A) ​Change his driving route and get off the Interstate 
B) ​Trade-in the BMW 5-series sedan and purchase a sports car 
C) ​Drive faster than the speed limit to heighten the thrill of driving 
D) ​Read articles or reviews about the BMW 5-series vehicle

Question 9

In the maturity stage of a product lifecycle,differences between competing products diminish as competitors discover the product and promotional characteristics most desired by customers.

Accepted Answer

A) True 
 B)False

Question 10

Homeshoring enables firms to save on office space,furnishings,and supplies.

Accepted Answer

A) True 
 B)False

Question 11

You have been chosen to serve as a member of the committee that will select finalists for the Malcolm Baldrige National Quality Award established by the U.S.Congress. ​
Required:
Which of the following companies would you select as one of the finalists for the award?​

Accepted Answer

A) ​a company with high market share 
B) ​a company with low employee turnover rates 
C) ​a company that ranks high on customer satisfaction 
D) ​a company that has received the ISO 9001:2008 certification 
E) ​a company that is typically referenced as a benchmark partner 
A) ​a company with high market share 
B) ​a company with low employee turnover rates 
C) ​a company that ranks high on customer satisfaction 
D) ​a company that has received the ISO 9001:2008 certification 
E) ​a company that is typically referenced as a benchmark partner

Question 12

A company may limit its growth potential when it concentrates on a single product.​

Accepted Answer

A) True 
 B)False

Question 13

You are learning about product lines in your marketing class and want to impress your professor with some details you have learned on your own. Required:
Which of the following assertions can you make about expanding a company's product lines?​

Accepted Answer

A) ​Product line expansion is a risk not worth the reward. 
B) ​Product line expansion is a fairly inexpensive process. 
C) ​Product line expansion increases production costs in the long term. 
D) ​Product line expansion can help to cut production and marketing costs. 
E) ​Product line expansion does not affect the cost of a company's marketing mix variables. 
A) ​Product line expansion is a risk not worth the reward. 
B) ​Product line expansion is a fairly inexpensive process. 
C) ​Product line expansion increases production costs in the long term. 
D) ​Product line expansion can help to cut production and marketing costs. 
E) ​Product line expansion does not affect the cost of a company's marketing mix variables.

Question 14

A service encounter is a point at which a consumer interacts with a service provider.

Accepted Answer

A) True 
 B)False

Question 15

Which of the following is true of convenience products?

Accepted Answer

A) Consumers generally don't have prior need recognition of convenience products before purchasing them. 
B) Consumers generally tend to purchase convenience products immediately and with minimal effort. 
C) Consumers tend to buy convenience products after a long-term evaluation of competing products in the market. 
D) Consumers tend to buy convenience products because of the prestige associated with their ownership. 
A) Consumers generally don't have prior need recognition of convenience products before purchasing them. 
B) Consumers generally tend to purchase convenience products immediately and with minimal effort. 
C) Consumers tend to buy convenience products after a long-term evaluation of competing products in the market. 
D) Consumers tend to buy convenience products because of the prestige associated with their ownership.

Question 16

Which of the following statements is true regarding the maturity stage of the product lifecycle?

Accepted Answer

A) It is the second stage of the product lifecycle. 
B) Since the product is unknown to the public during this stage, the promotional campaigns stress information about its features. 
C) During this stage differences between competing products diminish. 
D) It is characterized by rapid growth in the volume of sales. 
A) It is the second stage of the product lifecycle. 
B) Since the product is unknown to the public during this stage, the promotional campaigns stress information about its features. 
C) During this stage differences between competing products diminish. 
D) It is characterized by rapid growth in the volume of sales.

Question 17

Financial Services Inc.had call centers in Malaysia where employees worked in shifts to cater to American customers at all times.However,after receiving persistent complaints about unsatisfactory service quality and increasing inefficiency,the organization decided to shift the call centers to the United States again.This is an example of:

Accepted Answer

A) outsourcing. 
B) onshoring. 
C) backshoring. 
D) homeshoring. 
A) outsourcing. 
B) onshoring. 
C) backshoring. 
D) homeshoring.

Question 18

The product lifecycle concept applies to individual brands of a product.

Accepted Answer

A) True 
 B)False

Question 19

In contrast to the purchase of shopping products,consumers buy convenience products only after comparing competing offerings on such characteristics as price,quality,style,and color.

Accepted Answer

A) True 
 B)False

Question 20

Shopping products are:

Accepted Answer

A) products that consumers purchase after comparing competing offers. 
B) products with unique characteristics that cause buyers to prize those brands. 
C) products bought in response to unexpected and urgent needs. 
D) products purchased on the spur of the moment. 
A) products that consumers purchase after comparing competing offers. 
B) products with unique characteristics that cause buyers to prize those brands. 
C) products bought in response to unexpected and urgent needs. 
D) products purchased on the spur of the moment.

The assortment of product lines and individual product offerings that a company sells is known as its product cluster.

Which of the following products is most likely to be promoted through advertisements rather than through personal selling?

Define Total Quality Management (TQM)and ISO 9001:2008.Give examples of some companies that you know of as certified by ISO.

Buyers rarely play any role in the creation and distribution of services.

A series of related products offered by one company is called a product _____.

Which of the following comes closest to providing pure service?

Match each item with the correct statement below. -The assortment of product lines and individual product offerings a company sells is called the _____.

In the maturity stage of a product lifecycle,differences between competing products diminish as competitors discover the product and promotional characteristics most desired by customers.

Homeshoring enables firms to save on office space,furnishings,and supplies.

You have been chosen to serve as a member of the committee that will select finalists for the Malcolm Baldrige National Quality Award established by the U.S.Congress. Required: Which of the following companies would you select as one of the finalists for the award?

A company may limit its growth potential when it concentrates on a single product.

You are learning about product lines in your marketing class and want to impress your professor with some details you have learned on your own. Required: Which of the following assertions can you make about expanding a company's product lines?

A service encounter is a point at which a consumer interacts with a service provider.

Which of the following is true of convenience products?

Which of the following statements is true regarding the maturity stage of the product lifecycle?

The product lifecycle concept applies to individual brands of a product.

In contrast to the purchase of shopping products,consumers buy convenience products only after comparing competing offerings on such characteristics as price,quality,style,and color.

Shopping products are:

Marketing: the Art and Science of Satisfying Customers

Strategic Planning in Contemporary Marketing

The Marketing Environment, ethics, and Social Responsibility

Social Media: Living in the Connected World

E-Business: Managing the Customer Experience

Consumer Behavior

Business-To-Business B2bmarketing

Global Marketing

Market Segmentation, targeting, and Positioning

Marketing Research in the Era of Big Data

Relationship Marketing and Customer Relationship Management Crm

Developing and Managing Brand and Product Categories

Marketing Channels and Supply Chain Management

Retailers, wholesalers, and Direct Marketers

Integrated Marketing Communications, advertising, and Public Relations

Personal Selling and Sales Promotion

Pricing Concepts

Pricing Strategies

Developing an Effective Marketing Plan

Financial Analysis in Marketing

Filters

Exam 12: Product and Service Strategies

The assortment of product lines and individual product offerings that a company sells is known as its product cluster.

Which of the following products is most likely to be promoted through advertisements rather than through personal selling?

Define Total Quality Management (TQM)and ISO 9001:2008.Give examples of some companies that you know of as certified by ISO.

Buyers rarely play any role in the creation and distribution of services.

A series of related products offered by one company is called a product _____.

Which of the following comes closest to providing pure service?

Match each item with the correct statement below. -The assortment of product lines and individual product offerings a company sells is called the _____.

In the maturity stage of a product lifecycle,differences between competing products diminish as competitors discover the product and promotional characteristics most desired by customers.

Homeshoring enables firms to save on office space,furnishings,and supplies.

You have been chosen to serve as a member of the committee that will select finalists for the Malcolm Baldrige National Quality Award established by the U.S.Congress. ​ Required: Which of the following companies would you select as one of the finalists for the award?​

A company may limit its growth potential when it concentrates on a single product.​

You are learning about product lines in your marketing class and want to impress your professor with some details you have learned on your own. Required: Which of the following assertions can you make about expanding a company's product lines?​

A service encounter is a point at which a consumer interacts with a service provider.

Which of the following is true of convenience products?

Which of the following statements is true regarding the maturity stage of the product lifecycle?

The product lifecycle concept applies to individual brands of a product.

In contrast to the purchase of shopping products,consumers buy convenience products only after comparing competing offerings on such characteristics as price,quality,style,and color.

Shopping products are:

Marketing: the Art and Science of Satisfying Customers

Strategic Planning in Contemporary Marketing

The Marketing Environment, ethics, and Social Responsibility

Social Media: Living in the Connected World

E-Business: Managing the Customer Experience

Consumer Behavior

Business-To-Business B2bmarketing

Global Marketing

Market Segmentation, targeting, and Positioning

Marketing Research in the Era of Big Data

Relationship Marketing and Customer Relationship Management Crm

Developing and Managing Brand and Product Categories

Marketing Channels and Supply Chain Management

Retailers, wholesalers, and Direct Marketers

Integrated Marketing Communications, advertising, and Public Relations

Personal Selling and Sales Promotion

Pricing Concepts

Pricing Strategies

Developing an Effective Marketing Plan

Financial Analysis in Marketing

Filters

You have been chosen to serve as a member of the committee that will select finalists for the Malcolm Baldrige National Quality Award established by the U.S.Congress. Required: Which of the following companies would you select as one of the finalists for the award?

A company may limit its growth potential when it concentrates on a single product.

You are learning about product lines in your marketing class and want to impress your professor with some details you have learned on your own. Required: Which of the following assertions can you make about expanding a company's product lines?